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Sensex surges 400 points, Nifty at 22,651; Hindalco, HDFC top picks, know which stock to avoid on March 24
The Sensex opened higher by around 1,500 points to reach 74,212.47, while the Nifty rebounded over 365.80 points to trade near 22,878.45, reflecting strong early optimism during the opening session. However, a correction was seen in the second hour of trading.
Highlights
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Market Performance and Influences
Markets recovered sharply on Tuesday after Trump signaled a delay in plans to strike Iran.
The Sensex opened higher by approximately 1,500 points, reaching 74,212.47.
The Nifty rebounded over 365.80 points, trading near 22,878.45.
Impact on Crude Oil Prices
Crude oil prices eased to around USD 110 per barrel from USD 114 following Trump’s announcement.
Share Market LIVE Updates: With Trump signaling a delay in plans to strike Iran, markets recovered sharply on Tuesday, easing global risk concerns. The Sensex opened higher by around 1,500 points to reach 74,212.47, while the Nifty rebounded over 365.80 points to trade near 22,878.45, reflecting strong early optimism during the opening session. However, a correction was seen in the second hour of trading. Following Trump’s announcement, crude oil prices also eased to around USD 110 per barrel from USD 114, offering some relief to import-dependent economies like India.
Stocks for buy/pick
Stock
Recommended By
Target Price (Rs )
Potential Upside
Rationale
Hindalco
Motilal Oswal
1,110
~27%
Benefit from structural demand in EVs and renewable energy.
Ipca Labs
Motilal Oswal
1,820
~18%
Recovery in domestic formulations and export growth.
HDFC Bank
Motilal Oswal
1,100
~38%
Assurance on corporate governance and interim leadership provides comfort.
Belrise Ind.
Bajaj Broking / JM Financial
204 – 225
~14-22%
Rebounding from key support levels with a favorable risk-reward setup.
Coal India
Jefferies / SBI Securities
485
~20%
High power demand expectations and rising global coal prices.
Glenmark Pharma
HSBC
2,600
—
Recent FDA approvals expected to boost US sales trajectory.
Jayaswal Neco
Bajaj Broking
81
~15%
Forming a strong base at long-term support levels.
Stocks for avoid/sell
Stock
Recommended By
Rating
Target Price
Rationale
Titan Company
Macquarie
Underperform
₹3,200
Slowing growth in the jewelry segment and high valuation concerns.
IndusInd Bank
Global Brokerage
Sell / Reduce
₹1,250
Rising credit costs and concerns over unsecured loan exposure.
Astral
Technical Analysts
Sell
₹1,740
Stock has broken below its 200-day Moving Average (DMA) with high volume.
Navin Fluorine
Technical Desk
Sell
₹2,850
Sustained selling pressure and a "lower high, lower low" formation on the daily chart.
Share Market LIVE Updates: With Trump signaling a delay in plans to strike Iran, markets recovered sharply on Tuesday, easing global risk concerns. The Sensex opened higher by around 1,500 points to reach 74,212.47, while the Nifty rebounded over 365.80 points to trade near 22,878.45, reflecting strong early optimism during the opening session. However, a correction was seen in the second hour of trading. Following Trump’s announcement, crude oil prices also eased to around USD 110 per barrel from USD 114, offering some relief to import-dependent economies like India.
Stocks for buy/pick
Stock
Recommended By
Target Price (Rs )
Potential Upside
Rationale
Hindalco
Motilal Oswal
1,110
~27%
Benefit from structural demand in EVs and renewable energy.
Ipca Labs
Motilal Oswal
1,820
~18%
Recovery in domestic formulations and export growth.
HDFC Bank
Motilal Oswal
1,100
~38%
Assurance on corporate governance and interim leadership provides comfort.
Belrise Ind.
Bajaj Broking / JM Financial
204 – 225
~14-22%
Rebounding from key support levels with a favorable risk-reward setup.
Coal India
Jefferies / SBI Securities
485
~20%
High power demand expectations and rising global coal prices.
Glenmark Pharma
HSBC
2,600
—
Recent FDA approvals expected to boost US sales trajectory.
Jayaswal Neco
Bajaj Broking
81
~15%
Forming a strong base at long-term support levels.
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Stocks for avoid/sell
Stock
Recommended By
Rating
Target Price
Rationale
Titan Company
Macquarie
Underperform
₹3,200
Slowing growth in the jewelry segment and high valuation concerns.
IndusInd Bank
Global Brokerage
Sell / Reduce
₹1,250
Rising credit costs and concerns over unsecured loan exposure.
Astral
Technical Analysts
Sell
₹1,740
Stock has broken below its 200-day Moving Average (DMA) with high volume.
Navin Fluorine
Technical Desk
Sell
₹2,850
Sustained selling pressure and a “lower high, lower low” formation on the daily chart.